My 15 year old has recently managed to become a hot commodity on the babysitting circuit in the neighborhood. She’s earning $30-$80 a week, depending on how many gigs she accepts.
She recently asked how she should save the money. She doesn’t have anything in particular she is saving for except the occasional ice cream or pack of gum.
She has a savings account for minors that has no interest (maybe $400 in it) and a no interest checking account (maybe $500) so she can have a debit card.
She’s not doing anything with the babysitting money, and would be open to longer term “investing.” Should I have her look at CDs? Or what else can I suggest to her so that she learns the value of interest and delayed gratification?
Thank you!
Submitted November 14, 2019 at 07:08PM by tinyahjumma https://ift.tt/351OolT
